Hello i have a question, it is about taxation laws on bitcoin in CAN.
Do i have to pay tax on gift cards that i buy ? if so how does it work.
If i get the bitcoin by not buying it or mining it, but lets say as a gift or by gaming.
Do i need to pay tax on the goods i purchased with bitcoins.
very tricky situation we have here.
1. I don't know the law in Canada.
2. Would you live in Germany, it would be interesting.
- if you get 1BTC which is worth 100$ and dann sell it one year later for 200000$ -> not tax. Earlier than one year? -> 25% income tax.
- winnings from gamblings are tax free but private gambling is forbidden. (casinos owns the state) But if you play poker on poker stars (foreign country) they don't run after you.
So what would be if you got 1btc for 100$ and than through gambling you make it within 6 month to 2btc which is worth 400$?
But in your case I would not bother. It is not sooo much money and can always say you did not know...
